15,833 Shares in Alkermes plc $ALKS Bought by Moran Wealth Management LLC

Moran Wealth Management LLC acquired a new position in Alkermes plc (NASDAQ:ALKS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 15,833 shares of the company’s stock, valued at approximately $453,000.

Several other hedge funds and other institutional investors have also bought and sold shares of ALKS. JPMorgan Chase & Co. lifted its holdings in Alkermes by 488.6% in the first quarter. JPMorgan Chase & Co. now owns 5,234,995 shares of the company’s stock valued at $172,860,000 after buying an additional 4,345,523 shares during the period. Nuveen LLC acquired a new position in Alkermes in the first quarter valued at $66,689,000. Acadian Asset Management LLC raised its holdings in shares of Alkermes by 2,422.0% during the first quarter. Acadian Asset Management LLC now owns 881,827 shares of the company’s stock valued at $29,100,000 after purchasing an additional 846,861 shares during the period. Driehaus Capital Management LLC acquired a new position in shares of Alkermes during the first quarter valued at about $26,179,000. Finally, MetLife Investment Management LLC raised its holdings in shares of Alkermes by 487.0% during the first quarter. MetLife Investment Management LLC now owns 567,621 shares of the company’s stock valued at $18,743,000 after purchasing an additional 470,926 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Insider Transactions at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 9,000 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $31.53, for a total value of $283,770.00. Following the completion of the sale, the executive vice president directly owned 73,740 shares of the company’s stock, valued at approximately $2,325,022.20. This represents a 10.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.40% of the company’s stock.

Alkermes Price Performance

ALKS opened at $30.80 on Friday. Alkermes plc has a fifty-two week low of $25.17 and a fifty-two week high of $36.45. The firm has a market capitalization of $5.08 billion, a PE ratio of 14.81, a P/E/G ratio of 1.74 and a beta of 0.54. The company’s 50-day moving average is $29.06 and its 200 day moving average is $29.15.

Alkermes (NASDAQ:ALKS) last posted its earnings results on Tuesday, July 29th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. Alkermes had a net margin of 23.15% and a return on equity of 24.86%. The company had revenue of $390.66 million for the quarter, compared to analyst estimates of $343.20 million. During the same quarter in the prior year, the business posted $1.16 EPS. The firm’s revenue was down 2.1% compared to the same quarter last year. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. As a group, analysts expect that Alkermes plc will post 1.31 EPS for the current year.

Analyst Ratings Changes

ALKS has been the topic of several research reports. HC Wainwright reiterated a “neutral” rating and set a $46.00 price objective on shares of Alkermes in a report on Tuesday, September 9th. Royal Bank Of Canada upgraded shares of Alkermes from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $42.00 to $44.00 in a report on Friday, September 26th. Wells Fargo & Company upgraded shares of Alkermes to a “strong-buy” rating in a report on Wednesday, September 3rd. Needham & Company LLC set a $43.00 price objective on shares of Alkermes in a report on Tuesday, September 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Alkermes from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, September 9th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Alkermes has an average rating of “Moderate Buy” and an average price target of $42.00.

Alkermes Profile

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in therapeutic areas in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of clinical and preclinical product candidates in development for neurological disorders.